I'm not exactly sure of your details but I found this information that may be helpful:
Square Capital determines its loan offers primarily based on a business's Square payment processing volume, account history, and payment frequency, essentially using data from the business's Square transactions to assess their eligibility and loan amount without relying heavily on traditional credit scores; this includes factors like the consistency of sales, customer mix (new vs returning), and overall business health as reflected in their Square usage.
Square processing volume:
The total amount of sales processed through Square by the business over a period of time. Payment frequency:
How often the business takes payments through Square, indicating consistency in sales. Customer mix:
The ratio of new customers to returning customers, providing insight into business growth. Account history:
The length of time the business has been using Square and their overall activity on the platform. Business type and location:
Certain industries and geographical areas may have different eligibility criteria.
Sounds like you have the volume, history, and payment frequency down, but perhaps the other factors like consistency of sales (you mentioned sales were down in December), perhaps if the new sales are coming from an "incorrect" mix of new and returning customers, or even the amount and consistency of sales (not necessarily the dollar amount).
I'm wondering if they also take in to consideration the frequency of the loans given - so if they are taken frequently, maybe that amount hasn't had time to build back up?
